Green vehicle technology manufacturer Proterra has secured additional funding of over $30m to speed up further deployment of its zero-emission electric vehicle (EV) transit technology.
Paricipation in this round of funding was strengthened by the increasing demand for electric vehicles in transit as well as additional deployments by the company's current customers.
Proterra CEO Ryan Popple said EV transit is no longer an idea for the future; it is real and working daily in cities across the country.
"EV technology is an ideal fit for urban transit, and this funding will accelerate Proterra's ability to market a zero-emission, low-cost, clean option for urban mobility to more communities," Popple added.
The company expects to raise additional funding of another $10m within the coming weeks, bringing the total financing to $40m.
Proterra board member Michael Smith said the company is changing the future of mass transit by offering transit agencies and commercial customers a zero-emission option on the road right now.
"Proterra's game-changing technology is more than just a fit with our core business as an energy provider; it has the potential to improve the quality of life for our customers in the communities we serve," Smith added.
